Renta Universal de Vejez

About the program

It is a lifetime non-contributory monthly pension, given to all adults over 60 years or more; it is a part of the regime of non-contributory social security. The program was implemented in 2008 by the Fiscal and Control Authority for Pensions and Insurances (APS) and executed by the Pension Fund Administrators.

Country Bolivia
Home 2008
Classification Pensiones
FNS Dimension Acceso
Website https://www.aps.gob.bo
Components and/or products

Monthly pension

Bolivians living in the country older than sixty (60) years of age, who do not receive an income in the Long Term Social Security System or remuneration provided for in the general budget of the State, receive the sum of BOB 250 (USD 36) per month.

Bolivians over sixty (60) years of age who receive an income from Long Term Social Security System receive only 75% of the amount of the universal old age pension, BOB 200 (USD 29).

Target population
  • All Bolivians living in the country older than sixty (60) years, who do not receive an income in the Long Term Social Security System or remuneration provided for in the general budget of the Nation.
  • Bolivians who receive an income from Long Term Social Security System receive only 75% of the amount of the universal old age pension.
  • Right holders and persons entitled to Funeral Expenses.
Scope

Nacional

Geographical coverage Urbano y rural
Beneficiaries

2013: 1,027,127 people benefited.

Annual budget

2013: BOB$2,062,700,000 (USD$292,151,000)

Responsible organism

Autoridad de Fiscalización y Control de Pensiones y Seguros

Normative framework

Ley Nº 3.791/2007, establece la Renta Universal de Vejez (Renta Dignidad), dentro del régimen de Seguridad Social no Contributivo. 

Decreto Supremo 29400/2007, reglamenta la Ley No. 3791 de 28 noviembre de 2007, de la Renta Universal de Vejez (Renta Dignidad) y Gastos Funerales. 

Decreto Supremo 29417/2008, incorpora el inciso c) en el Parágrafo II del Artículo 2 y modifica la Disposición Transitoria Única del Decreto Supremo Nº 29400 de 29 de diciembre de 2007.

Financial sources

The benefits of the universal old age pension and funeral expenses are financed through the Universal Old Age Pension Fund:

  • 30% of all the perceived resources from the Direct Tax on Hydrocarbons (IDH), from the prefectures, municipalities, Indigenous Fund and the General Treasury of the Nation.
  • Capitalized dividends from Capitalized Public Companies on the shareholding ratio corresponding to the Bolivians.
  • Cash flow from mentioned financing sources, are deposited in the Fund's account of the Universal Old Age Pension Fund.

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